AISpeech, a voice interaction solution provider, recently closed US$58 million (RMB 410 million) led by CTC Capital, a report by 36Kr revealed on Tuesday. Other participants in the round include Goldstone Investment (the PE fund management subsidiary of Citic Securities) and the investment arm of Chinese automaker BAIC, BAIC capital.
AISpeech that counts MediaTek, Foxconn and Alibaba among its major investors has a set timetable for its initial public offering but did not reveal further details.
Gao Shixing, a University of Cambridge graduate, co-founded the platform (AISpeech) in the United Kingdom in 2007 but later moved in 2018 to Suzhou, Jiangsu. AISpeech features a human-machine interaction known as DUI (Dialogue User Interface) plus a chip called TH1520 that it co-launched with the largest semiconductor foundry in China, Semiconductor Manufacturing International Corporation.
AISpeech has provided AI technologies to many clients, approximately 8,000, including Alibaba, Logistics Company SF, and Xiaomi, a smartphone maker.
The acquired funds will be used to expand in smart wearables, finance, government-facing services, and automotive.